New York State Teachers Retirement System Lowers Stock Position in Zoetis Inc. (NYSE:ZTS)

New York State Teachers Retirement System reduced its stake in Zoetis Inc. (NYSE:ZTS) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 396,447 shares of the company’s stock after selling 15,578 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Zoetis worth $64,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Pensionfund Sabic raised its stake in shares of Zoetis by 55.6% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the company’s stock worth $1,825,000 after acquiring an additional 4,000 shares in the last quarter. PFW Advisors LLC purchased a new position in shares of Zoetis during the fourth quarter worth approximately $1,764,000. JPMorgan Chase & Co. raised its stake in shares of Zoetis by 10.6% during the third quarter. JPMorgan Chase & Co. now owns 2,916,539 shares of the company’s stock worth $569,834,000 after acquiring an additional 279,092 shares in the last quarter. Simplify Asset Management Inc. purchased a new position in shares of Zoetis in the third quarter worth $11,684,000. Finally, Nordea Investment Management AB increased its stake in shares of Zoetis by 38.3% in the fourth quarter. Nordea Investment Management AB now owns 2,065,514 shares of the company’s stock worth $336,266,000 after buying an additional 572,511 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Performance

Shares of ZTS stock opened at $157.54 on Friday. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $200.53. The stock has a market cap of $71.08 billion, a PE ratio of 29.61, a price-to-earnings-growth ratio of 2.77 and a beta of 0.90. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. The company’s fifty day moving average price is $168.89 and its 200-day moving average price is $178.98.

Zoetis (NYSE:ZTS) last announced its earnings results on Thursday, February 13th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. On average, equities analysts expect that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Monday, April 21st. Zoetis’s dividend payout ratio (DPR) is presently 37.59%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. UBS Group assumed coverage on shares of Zoetis in a research note on Monday, December 9th. They issued a “neutral” rating and a $196.00 target price on the stock. Morgan Stanley decreased their target price on shares of Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a research note on Friday. Barclays lifted their target price on shares of Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a research note on Friday. Leerink Partnrs raised shares of Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Piper Sandler decreased their target price on shares of Zoetis from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $214.90.

Insider Activity

In other news, EVP Roxanne Lagano sold 326 shares of Zoetis stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total value of $55,804.68. Following the completion of the transaction, the executive vice president now owns 16,107 shares of the company’s stock, valued at $2,757,196.26. The trade was a 1.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.16% of the company’s stock.

Zoetis Company Profile

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.